Premium Leisure Corp, listed on the Philippine Stock Exchange (PSE), officially filed for voluntary delisting from the main board, effective July 9. The company submitted its petition on May 10 to PSE President and CEO Ramon Monzon, according to a Monday filing.
As an active investor in City of Dreams Manila—a casino resort run by a Melco Resorts & Entertainment Ltd unit—Premium Leisure consistently earns a portion of gaming revenue through one of its subsidiaries. The firm also operates under the umbrella of Belle Corp, another PSE-listed company.
Back in March, Belle Corp revealed plans to delist Premium Leisure voluntarily. Shortly after, it launched a tender offer, pricing all outstanding Premium Leisure common shares at PHP0.85 each. By May 9, the offer had officially concluded.
Belle Corp paid nearly PHP5.25 billion to acquire over 6.17 billion shares, representing approximately 19.77 percent of Premium Leisure’s issued and outstanding common stock. As a result, Belle now owns 99.55 percent of the company.
In the first quarter of 2024, Premium Leisure reported a net income of just under PHP279.5 million, reflecting a sharp 55.3 percent drop from the same period in 2023. Moreover, its share of gaming revenue from City of Dreams Manila fell to PHP401.2 million, marking a 43.9 percent year-on-year decline.
